Midwest Experts Look Ahead to 2015 Residential Real Estate Trends

David Wolf

CHICAGO, IL – Building on the positive momentum of 2014, which saw a strengthening for-sale market with Chicago-area home prices up and on par with 2003 numbers, as well as continued demand for new rental options, with Class A downtown apartments averaging 93.8 percent occupancy, Chicago-area real estate experts are looking ahead to 2015 with optimism.

 Here are the top trends they anticipate shaping the 2015 real estate landscape: 

1.    Condos Make a Comeback: As buyer confidence grows and lending restrictions decrease, condominium sales – and pricing – will see an uptick in 2015.

 “There’s strong demand, but new construction has been nearly non-existent since the downturn, and condo inventory is at its lowest level since tracking began in 1997,” said David Wolf, president of Related Realty. “That spells opportunity for developers, and we’re starting to see new projects announced.”

For a complete copy of the company’s news release, please contact:

Kim Manning, kmanning@taylorjohnson.com, 312-267-4527

Sarah Lyons, slyons@taylorjohnson.com, 312-267-4520